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SALE OF HOUSE
If your gain was more than $250,000 filing Single, or more than $500,000 filing Married Filing Jointly the sale must be reported on your tax return. Whether you re-invested the gain in to another house is irrelevant. If you have a Form 1099-S go to Federal>Wages and Income>Less Common Income>Sale of Home (gain or loss)
If you owned and lived in the home as your primary residence for at least 2 of the last 5 years on the date of the sale, you do not have to report the home sale if the gain is less than $250K filing Single, or less than $500K filing Married Filing Jointly (and you both owned and lived in the home for at least 2 years).
NOTE: If you have ever used the home as rental property or claimed a home office, you have more information to enter
What is your 2023 tax ? Do you have withholding? Did you get a refund this year?
If your total 2024 withholding alone is 100 % of prior year tax (110% if your 2023 AGI is over $150,000),
you can avoid any penalty in 2024.
You don't need to make Estimated Tax payments.
One possible action is to submit a W-4 to employer to increase withholding for the rest of this year.
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Separately, Estimated Tax payments may be advisable to pledge you can pay the amount you owe on Tax Day
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